1️⃣Summary

The emergence of cryptocurrency around the world originated form the instability of legal tender. From the past, legal tender has been used as a means of value storage and value exchange. With the massive quantitative easing whenever the financial crises arrives, however, the value of legal tender began to fluctuate very much. In addition, stability problems began to arise because the value was determined by the credit of the issuing country. To solve these problems, cryptocurrency using the blockchain technology began to emerge.

Currently, there are more than 9,000 cryptocurrency. Cryptocurrency are making many changes to replace currencies in the real world. In particular, many projects have been created to connect cryptocurrency to real goods instead of legal tender. However, the most popular Bitcoin and Ethereum are still insufficient to replace legal tender in the real world. Among them, the overall cryptocurrency market is speculative, which is very unstable in terms of price stability.

Nevertheless, projects to pay for real goods through cryptocurrency continue to be created because they are still attractive. When paying for real goods with cryptocurrency, you can reduce the fees incurred in the existing payment process, eliminate the problem of double payment, and lead to simple payment. Since the existing payment market has a strong tendency of zero-sum games, most of the participants in the payment process can enjoy additional utility if they can pay with cryptocurrency.

In order to connect the payment industry to the existing industry, the payment process actually accumulated through business is the most important. Therefore, the accumulated payment process is required in order to connect the cryptocurrency to payment. Stable cryptocurrency payment is possible only if you have experience in process, payment devices, franchises, and payment settlement systems used in real life.

In order to build an effective cryptocurrency payment process, the UPAY platform was born. UPAY is a cryptocurrency payment platform, which has licenses and processes related to payment, and has actually conducted various operations in the payment sector. Having the experience of the existing payment process required for cryptocurrency to lead to payment, it can maximize the synergy between cryptocurrency and payment.

In addition, by building a global payment process in connection with UPAY to solve the problem that current cryptocurrency cannot lead to payment, it will establish the basis for securing the versatility of cryptocurrency.